Social media giant, Facebook, has filed trademark applications for Meta Pay, a digital asset trading and payment platform. Meta purchased the Meta Pay corporate brand for $60 million from a US bank last year.
Meta, formerly Facebook has filed five trademark requests in the United States to mark what appears to be a new digital platform called Meta Pay.
Meta Pay was described in the trademark applications filed May 13 as an “online social network service for investors allowing financial trading and exchange of digital currency and virtual currency, crypto, digital and Blockchain assets, digital tokens [and] cryptocurrency tokens.”
Meta Pay may include investment services and digital asset lending, in addition to payment and trading.
In December 2021, the social media giant acquired the MetaPay.com domain from South Dakota-based MetaBank for $60 million.
Meta has just filed a trademark for its latest crypto-related play. They announced plans to start testing NFTs via Instagram earlier in the month.
Meta previously had filed eight trademark applications to its logo, with the company describing this move as part its pivot towards digital economy.
The company announced that Reality Labs , its metaverse-focused unit, had lost nearly $3 billion during the first quarter.
Despite significant opposition from regulators around the world, the company’s Diem stablecoin initiative also failed to take root . Silvergate, a US-based bank, later purchased the assets of that initiative.